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[sankt-Antonio]

Jesus Christ what nonsense is this?

Germany is on the brink of complete collapse if Putin turns off their gas - they are 100% fucked. Greece is wholesale about to default on huge debts (again) Italy and Spain aren’t far behind. Ireland has one of the highest debts per person IN THE WORLD. The whole EU block is unstable.

Yet, you focus solely on the U.K.?

No. Germany has enough gas for this winter, more gas at this time a year than the last two years and has secured gas from other sources.

 

[Clear]

The

, I love people criticising the EU and staunchly defending the union.

No, it was and is an overall good idea and that helped all involved to prosper. Compare the U.K. before and after. Sometimes the idea that in groups it is a game of give and take seems so foreign .

You're kinda missing Jim Callaghan going cap-in-hand to the IMF in the 1976 Sterling crisis!

Honestly, most people today have no idea of how grim the 1970's were, but as I've written in the past I expect the next few years to be very similar.

 

[jdforge]

No. Germany has enough gas for this winter, more gas at this time a year than the last two years and has secured gas from other sources.

Is one of the other sources your uncle who works for Nintendo?

 

[sankt-Antonio]

Is one of the other sources your uncle who works for Nintendo?

Yeah, he is called Olaf Schulz.

 

[jdforge]

Yeah, he is called Olaf Schulz.

Didn’t No Laugh Schultz do so well! One tanker, that’ll keep the lights on!

 

[Jim Ryan other Clone]

No. Germany has enough gas for this winter, more gas at this time a year than the last two years and has secured gas from other sources.

What bullshit are you talking about, that's why the factories that make ADblue had stoped or limited completely their productions and at Bavaria there is ADblue rationing?
Probably this big companies did not get the memo that everything is going fine

 

[Mr Reasonable]

No surprise that weakening the UK by leaving the EU weakened also both sides… Vladimir P says “thanks” .

I think you'll find Mr Putin isn't saying thanks so much as "I did it!"

 

[AJUMP23]

No. Germany has enough gas for this winter, more gas at this time a year than the last two years and has secured gas from other sources.

From all the sausages?

 

[AJUMP23]

UK is making some bad decisions. The idea that they can artificially limit the cost of energy bills is a bad one. They are just going to subsidize the price by making up the difference and as long as the government pays, the price will increase. They need more means of energy production. Some Nuke plants here and there could help. But that is a multi year solution. To solve an energy crisis takes years, but it was also created through years of inaction.

Texas has an energy crisis because they tried to go too green and build windmills. Windmills are great but you also need many other sources to supplement the supply.

 

[Team Andromeda]

, I love people criticising the EU and staunchly defending the union.

No, it was and is an overall good idea and that helped all involved to prosper. Compare the U.K. before and after. Sometimes the idea that in groups it is a game of give and take seems so foreign .

I don't see how the UK still being in the EU would have held with the currency, inflation, or fuel security myself, when these are all issues that affect the EU We spent far more than we can afford and like a few countries ln the EU went the bullsh8t wind root didn't invest in Nuclear and looked to offload our carbon targets by importing gas We then we had the muppets in the BOE buying Gov debt like it was going out of fashion, telling the leaders that Inflation was transitory and keeping Interest rates at ridiculously low levels, long after the crush.

At least the French had the good sense to keep investing in Nuclear if only we followed their lead.

 

[chonga]

What?

The only way you could have got that "information" (and hence the confusion) is if you aren't getting your news from reliable and credible sources.

This is the real story here.

And not sure why no one has picked up on the incredibly bad math from the opening posting. $1.16 to $1.03 (now $1.07, but whatever) is a 30% drop? Not even close.

But yeah, this is about the dollar doing what it does best during times of woe - being the place investors go.

Indeed CAD-USD is down more than GBP-USD today. So is AUD. So is CHF. So is NZD. I mean I could continue.

 

[sankt-Antonio]

What bullshit are you talking about, that's why the factories that make ADblue had stoped or limited completely their productions and at Bavaria there is ADblue rationing?
Probably this big companies did not get the memo that everything is going fine

Its in German but maybe a little Google translate can help. Germans gas tanks (reserves) are filled at 91% capacity. On page four you will find a graphic that displays gas reserves capacity now (26.09.2022) vs capacity from 2016-2021.

Google translate:
"The situation is tense and a further deterioration of the situation cannot be ruled out. The gas supply in Germany is stable at the moment. Security of supply in Germany is currently guaranteed. The Federal Network Agency is monitoring the situation closely and is in close contact with the network operators."

"Some of the current fill levels are significantly higher than in 2015, 2017, 2018 and 2021."

 

[Jim Ryan other Clone]

Its in German but maybe a little Google translate can help. Germans gas tanks (reserves) are filled at 91% capacity. On page four you will find a graphic that displays gas reserves capacity now (26.09.2022) vs capacity from 2016-2021.

Google translate:
"The situation is tense and a further deterioration of the situation cannot be ruled out. The gas supply in Germany is stable at the moment. Security of supply in Germany is currently guaranteed. The Federal Network Agency is monitoring the situation closely and is in close contact with the network operators."

"Some of the current fill levels are significantly higher than in 2015, 2017, 2018 and 2021."

If you are German then you have to support your country men and use Deepl not fucking Google.

 

[sankt-Antonio]

If you are German then you have to support your country men and use Deepl not fucking Google.

What a weak response. Just admit the loss and move on.

 

[Jim Ryan other Clone]

What a weak response. Just admit the loss and move on.

That was not a response to your comment about the article but about the use of the Google translator but whatever

 

[_Ex_]

What's the reason for the £ dropping so much in value?

 

[Banjo64]

Avram Glazer!?

 

[Baki]

AFAIK the dollar has taken a serious skydive with Biden behind the wheel, but has the prices there increased?

Maybe I am confused? I assumed it was only a Sony thing since you only mentioned Sony, which lead to my thinking about they were the only one increasing the price lately where MS and Nintendo say they wouldn't.

I am still confused.

You are confused.

The dollar has strengthened significantly versus other currencies.

Inflation, which is what’s happening globally and in the USA means that the cost of goods and services have increased by 8.1% in a year.

Sony has not increased prices in the USA because the $ is strong when compared to the Yen. Meanwhile, in Europe, where the € and £ are down by 20%, they’ve had to adjust to prices to make sure they don’t take massive losses.

 

[John Wick]

Brits getting hampered by not investing in Green Energy and being reliant on Russia. Also, Brexit. Nothing more to say that US $ is also the world's reserve currency. The days of the Sterling are over.

So what do the UK rely on Russia for? 4% of total gas/oil. The reason why we are in this mess is racist pricks bit off their nose to spite their face. They voted Tory thinking that Brexit will stop Europeans and brown people from coming over. The patriotic wave was an easy one to ride. Taking back control, sovereignty etc etc. Now Liz Truss has gone one better in helping the 621,000 people on £150,000+ even more and screwing the rest even more.

 

[DeepEnigma]

 

[Mozza]

Remember when GBP:USD was 2:1?

If Sony keep pushing prices up they'll push people away. Times of rising costs don't lend themselves to £600 consoles.

Is worldwide pricing done on Dollar exchange?

@anthony2690 Brexit is a big one. Thanks Boris. Look where all the lies got us.

So nothing to do with the war in Ukraine then, and the impending U.S and pretty much worldwide recession.

Both the Pound and Euro are tracking at the same rate against the U.S dollar.

 

[YCoCg]

At least the chancellors and the bankers made a LOT of money from shorting the pound, good for them!

 

[PhoenixTank]

I do not miss the Politics forum.

On another note, it really is a combination of factors. Strengthening dollar (safe haven in war, fed rate hikes), an unsound UK economic policy, recession, higher inflation, less than expected BoE rate increase.

I'm dreading my next tech purchases.

 

[Fahdis]

The UK doesn’t import that much gas or oil from Russia so check your facts

Did I say Oil and Gas anywhere?

That's not true. We only brought 4% of our total energy from Russia. We are no where near as reliant on Russian gas then the rest of Europe and we've already stopped buying from them.

4% Gas, 9% Oil and 27% Coal infact. But you guys genuinly fucked up with Brexit.

 

[phil_t98]

Did I say Oil and Gas anywhere?



4% Gas, 9% Oil and 27% Coal infact. But you guys genuinly fucked up with Brexit.

Agree on brexit, should never of happend

 

[Fafalada]

I am really curious if MS is willing to swallow the loses in GBP and EUR.

Microsoft isn't (they've been charging extortionate prices on their other hardware for years - Surface line has been priced 1.2:1 in Pounds vs USD 2-3 years ago already - fully expect to see it at 1.5x before long).
Xbox might be though.

 

[Neilg]

Honestly can't believe some of the opinions I've seen in this thread. I can see why politics chat was banned, if that anti labour post was real I am blown away.

We've all got a rough couple of years ahead of us. Some a lot worse than others. It's been a perfect storm of post growth fragility and some major destabilizing events.

 

[winjer]

 

[Banjo64]

We've all got a rough couple of years ahead of us. Some a lot worse than others. It's been a perfect storm of post growth fragility and some major destabilizing events.

Reading this morning that 10 major banks have pulled fixed term mortgages for new customers. Got a 5 year fixed term @ 1.44% in January. Thank the Lord.

It’s time to hunker down.

Gaming is at the bottom of the list right now, and will be for a lot of sensible people.

 

[//DEVIL//]

He became gal

U kiddin right ?

 

[JackSparr0w]

Reading this morning that 10 major banks have pulled fixed term mortgages for new customers. Got a 5 year fixed term @ 1.44% in January. Thank the Lord.

It’s time to hunker down.

Gaming is at the bottom of the list right now, and will be for a lot of sensible people.

If you bought in January then you bought the top of the housing market, you win some you lose some.

 

[KungFucius]

But the pound is dropping vs the euro, so it can't be that.

It can be because both can it not? The pound is dropping vs some currencies for one reason and the dollar is rising vs some currencies for another. The Euro itself might be rising for yet another reason. People try to oversimplify things when they really are very complex.

This is a combination of Putin’s war, Brexit hangover, post Covid effects, and a tired, out of ideas government. There’s no one thing at work here.

Yet people get political (emotional) and blame it all on one or 2 things they don't like because they think their simplistic views with emotions backing them are reasonable opinions. They then vote for terrible people because they sow anger about the some of the things they don't like. This causes everything to get worse, more things to be angry about, more anger sowing assholes getting elected and shit getting worse.

 

[TheZink]

Pretty confusing layout.

Are all sales taxes in the US 20%?



The new measures announced by the chancellor.

In my state it’s 7%

 

[veterangamerUK]

Reading this morning that 10 major banks have pulled fixed term mortgages for new customers. Got a 5 year fixed term @ 1.44% in January. Thank the Lord.

It’s time to hunker down.

Gaming is at the bottom of the list right now, and will be for a lot of sensible people.

Yep, time to tackle the backlog

 

[Cyberpunkd]

https://www.bbc.co.uk/news/live/business-63031372

The £ has dropped by 30% against the dollar and has dropped from $1.16 to $1.03 in less than a month.

Expect price hikes for British gamers. When the PS5 launched, it was £375 before tax (£450 after tax). At this new exchange rate, that means British gamers were only paying $386 for the $500 PS5 disc edition.

You need to take into account US prices do not list tax (you need to add it), the UK and European ones do.

 

[Cyberpunkd]

Reading this morning that 10 major banks have pulled fixed term mortgages for new customers. Got a 5 year fixed term @ 1.44% in January. Thank the Lord.

It’s time to hunker down.

Bro, I got 20 years fixed at 1.04% last year. France can be hell of a country but at least when it comes to banking it is difficult to screw you over.

 

[MudoSkills]

Bro, I got 20 years fixed at 1.04% last year. France can be hell of a country but at least when it comes to banking it is difficult to screw you over.

Are you gonna tell me you didn't even have to pay a fee for that mortgage?

 

[Baki]

You need to take into account US prices do not list tax (you need to add it), the UK and European ones do.

I have, which is why I listed the pre tax price for UK

 

[Duchess]

Yeah, us UK Gaffers are definitely in a rough time of it over the next several years. Hopefully many of us will still be able to budget for our gaming hobbies.

 

[Banjo64]

Yeah, us UK Gaffers are definitely in a rough time of it over the next several years. Hopefully many of us will still be able to budget for our gaming hobbies.

I’m just praying the Game Pass stacking still works in March 2024, when mine expires. I’ll just try to live primarily of that.

 

[Mr Reasonable]

well my gas/electricity is now capped to £2,500/year apparently

Nope. The unit cost has been capped, and the average usage will cost £2.5k.

It's very misleadingly reported. Some people will doubtlessly think they can use as much energy as they want and "only" have to pay £2.5k. They will get a bill that is larger than expected if they go over average usage (Google to check what that figure is and you can compare your usage if you're worried).

 

[Roufianos]

Jesus Christ what nonsense is this?

Germany is on the brink of complete collapse if Putin turns off their gas - they are 100% fucked. Greece is wholesale about to default on huge debts (again) Italy and Spain aren’t far behind. Ireland has one of the highest debts per person IN THE WORLD. The whole EU block is unstable.

Yet, you focus solely on the U.K.?

Wtf are you on about with Greece? We're actually ahead on our debt payments.

 

[Tams]

UK is making some bad decisions. The idea that they can artificially limit the cost of energy bills is a bad one. They are just going to subsidize the price by making up the difference and as long as the government pays, the price will increase. They need more means of energy production. Some Nuke plants here and there could help. But that is a multi year solution. To solve an energy crisis takes years, but it was also created through years of inaction.

Texas has an energy crisis because they tried to go too green and build windmills. Windmills are great but you also need many other sources to supplement the supply.

We're still pushing ahead with mini reactors, and wind, at least offshore, grows more and more.

The mini reactors are pretty much already developed as they are a version of the Rolls Royce ones we used in our nuclear submarines.